Fayez Sarofim & Co Buys Amazon.com Inc, AT&T Inc, Hess Corp, Sells Novartis AG, Time Warner Inc, Oracle Corp

• New Purchases: CRC, RETA, EQNR, EW, LW, MFC, OMC, SHPG, TRCH,
• Added Positions: AMZN, APD, T, STT, VRSK, CB, FB, HES, MRK, LUV,
• Reduced Positions: XOM, NVS, PG, AAPL, DIS, WBA, ABBV, KMI, PX, MSFT,
• Sold Out: TWX, BPL, MPLX, LVS, IP, GSK, GM, EBAY, COL, XLU,

For the details of Fayez Sarofim & Co's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Fayez+Sarofim+%26+Co

1. Philip Morris International Inc (PM) - 15,113,162 shares, 6.57% of the total portfolio. Shares reduced by 0.81%
2. Coca-Cola Co (KO) - 22,087,205 shares, 5.21% of the total portfolio. Shares reduced by 0.96%
3. T. Rowe Price Group Inc (TROW) - 8,006,760 shares, 5% of the total portfolio.
4. Apple Inc (AAPL) - 4,888,870 shares, 4.87% of the total portfolio. Shares reduced by 1.45%
5. Exxon Mobil Corp (XOM) - 10,322,787 shares, 4.6% of the total portfolio. Shares reduced by 5.23%

Fayez Sarofim & Co initiated holding in California Resources Corp. The purchase prices were between $16.08 and $45.44, with an estimated average price of $31.56. The stock is now traded at around $32.08. The impact to a portfolio due to this purchase was 0.01%. The holding were 51,173 shares as of 2018-06-30.

Fayez Sarofim & Co initiated holding in Reata Pharmaceuticals Inc. The purchase prices were between $19.94 and $40.96, with an estimated average price of $30.38. The stock is now traded at around $65.34. The impact to a portfolio due to this purchase was 0.01%. The holding were 30,129 shares as of 2018-06-30.

Fayez Sarofim & Co initiated holding in Edwards Lifesciences Corp. The purchase prices were between $127.36 and $153.9, with an estimated average price of $140.07. The stock is now traded at around $137.13. The impact to a portfolio due to this purchase was less than 0.01%. The holding were 3,060 shares as of 2018-06-30.

Fayez Sarofim & Co initiated holding in Manulife Financial Corp. The purchase prices were between $17.8 and $19.57, with an estimated average price of $18.84. The stock is now traded at around $18.74. The impact to a portfolio due to this purchase was less than 0.01%. The holding were 17,928 shares as of 2018-06-30.

Fayez Sarofim & Co initiated holding in Omnicom Group Inc. The purchase prices were between $70.22 and $76.31, with an estimated average price of $73.88. The stock is now traded at around $68.12. The impact to a portfolio due to this purchase was less than 0.01%. The holding were 2,692 shares as of 2018-06-30.

Fayez Sarofim & Co initiated holding in Shire PLC. The purchase prices were between $148.46 and $173.13, with an estimated average price of $161.32. The stock is now traded at around $169.13. The impact to a portfolio due to this purchase was less than 0.01%. The holding were 1,185 shares as of 2018-06-30.

Fayez Sarofim & Co added to a holding in Amazon.com Inc by 78.74%. The purchase prices were between $1371.99 and $1750.08, with an estimated average price of $1586.76. The stock is now traded at around $1919.65. The impact to a portfolio due to this purchase was 0.22%. The holding were 54,947 shares as of 2018-06-30.

Fayez Sarofim & Co added to a holding in AT&T Inc by 459.45%. The purchase prices were between $31.4 and $36.14, with an estimated average price of $33.25. The stock is now traded at around $32.24. The impact to a portfolio due to this purchase was 0.05%. The holding were 341,084 shares as of 2018-06-30.

Fayez Sarofim & Co added to a holding in Hess Corp by 131.12%. The purchase prices were between $48.5 and $66.89, with an estimated average price of $59.73. The stock is now traded at around $63.92. The impact to a portfolio due to this purchase was 0.03%. The holding were 139,604 shares as of 2018-06-30.

Fayez Sarofim & Co added to a holding in Southwest Airlines Co by 34.47%. The purchase prices were between $50.32 and $56.86, with an estimated average price of $52.68. The stock is now traded at around $59.09. The impact to a portfolio due to this purchase was 0.02%. The holding were 273,008 shares as of 2018-06-30.

Fayez Sarofim & Co added to a holding in AvalonBay Communities Inc by 126.47%. The purchase prices were between $157.76 and $172.23, with an estimated average price of $165.25. The stock is now traded at around $178.63. The impact to a portfolio due to this purchase was 0.01%. The holding were 7,700 shares as of 2018-06-30.

Fayez Sarofim & Co added to a holding in Verizon Communications Inc by 100.97%. The purchase prices were between $46.38 and $51.57, with an estimated average price of $48.42. The stock is now traded at around $52.87. The impact to a portfolio due to this purchase was 0.01%. The holding were 51,156 shares as of 2018-06-30.

Fayez Sarofim & Co sold out a holding in Time Warner Inc. The sale prices were between $92.18 and $98.77, with an estimated average price of $95.01.

Fayez Sarofim & Co sold out a holding in Rockwell Collins Inc. The sale prices were between $131.62 and $139.18, with an estimated average price of $135.25.

Fayez Sarofim & Co sold out a holding in GlaxoSmithKline PLC. The sale prices were between $38.85 and $41.94, with an estimated average price of $40.29.

Fayez Sarofim & Co sold out a holding in International Paper Co. The sale prices were between $50.18 and $59.01, with an estimated average price of $53.96.

Fayez Sarofim & Co sold out a holding in Buckeye Partners LP. The sale prices were between $34.86 and $41.89, with an estimated average price of $38.21.

Fayez Sarofim & Co sold out a holding in eBay Inc. The sale prices were between $36.14 and $42.2, with an estimated average price of $38.93.

Fayez Sarofim & Co reduced to a holding in Novartis AG by 34.73%. The sale prices were between $72.44 and $81.87, with an estimated average price of $77.05. The stock is now traded at around $82.14. The impact to a portfolio due to this sale was -0.2%. Fayez Sarofim & Co still held 860,262 shares as of 2018-06-30.

Fayez Sarofim & Co reduced to a holding in Oracle Corp by 42.52%. The sale prices were between $42.82 and $48.45, with an estimated average price of $46.06. The stock is now traded at around $48.23. The impact to a portfolio due to this sale was -0.03%. Fayez Sarofim & Co still held 165,116 shares as of 2018-06-30.

Fayez Sarofim & Co reduced to a holding in Wynn Resorts Ltd by 25.61%. The sale prices were between $163.91 and $201.51, with an estimated average price of $184.42. The stock is now traded at around $143.87. The impact to a portfolio due to this sale was -0.01%. Fayez Sarofim & Co still held 30,500 shares as of 2018-06-30.

Fayez Sarofim & Co reduced to a holding in Amphenol Corp by 30.53%. The sale prices were between $82.57 and $91.32, with an estimated average price of $87.05. The stock is now traded at around $94.07. The impact to a portfolio due to this sale was less than 0.01%. Fayez Sarofim & Co still held 6,894 shares as of 2018-06-30.

Fayez Sarofim & Co reduced to a holding in Freeport-McMoRan Inc by 39.51%. The sale prices were between $14.95 and $19.57, with an estimated average price of $16.96. The stock is now traded at around $14.80. The impact to a portfolio due to this sale was less than 0.01%. Fayez Sarofim & Co still held 88,461 shares as of 2018-06-30.

Fayez Sarofim & Co reduced to a holding in Magellan Midstream Partners LP by 43.19%. The sale prices were between $57.62 and $70.82, with an estimated average price of $67.16. The stock is now traded at around $70.71. The impact to a portfolio due to this sale was less than 0.01%. Fayez Sarofim & Co still held 7,597 shares as of 2018-06-30.